Frankfort, Illinois Affordable Housing

Affordable Housing programs support 0 income based apartments in Frankfort where households pay rent based on how much they earn.

There are 36 affordable apartments in Frankfort that offer reduced rents to low-income households.

Waiting Lists in Frankfort, Illinois

There are no open Section 8 Housing Choice Voucher waiting lists in Frankfort. Go to the Illinois Section 8 Waiting Lists page for openings near Frankfort.

Hawthorne Lakes Senior Residences

20277 South Pine Hill Road
Frankfort, Illinois
Call For Rent
1-2 BR
Affordable
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Affordable Housing Near Frankfort

View affordable apartments and waiting lists in cities near Frankfort

City Apartments
Chicago, IL Affordable Housing programs support 766 apartment communities in Chicago.
Elgin, IL Affordable Housing programs support 15 apartment communities in Elgin.
Evanston, IL Affordable Housing programs support 12 apartment communities in Evanston.
Palatine, IL Affordable Housing programs support 7 apartment communities in Palatine.
Chicago Heights, IL Affordable Housing programs support 7 apartment communities in Chicago Heights.

Public Housing Agencies Serving Frankfort, Illinois

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Housing Authority Programs
Housing Authority of Cook County Section 8 Housing Choice Voucher (HCV); Public Housing; Section 8 Project-Based Voucher (PBV)
Go to the Illinois Public Housing and Low-Income Apartments Waiting Lists page for openings near Frankfort.

Frankfort, Illinois Affordable Housing Data

Income Based Apartments in Frankfort, Illinois

Frankfort features 0 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Frankfort, Illinois

There are 36 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Frankfort.

Housing Choice Vouchers in Frankfort, Illinois

On average, Section 8 Housing Choice vouchers pay Frankfort landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Frankfort.

The maximum amount a voucher would pay on behalf of a low-income tenant in Frankfort, Illinois for a two-bedroom apartment is between $1,296 and $1,584.

2023 Frankfort, Illinois Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Frankfort, Illinois Fair Market Rent $1,158 $1,255 $1,440 $1,827 $2,172
Frankfort, Illinois Payment Standard Range $1,042 to $1,274 $1,130 to $1,381 $1,296 to $1,584 $1,644 to $2,010 $1,955 to $2,389

Sourced from federal housing data and AffordableHousingOnline.com research.

Frankfort, IL Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 36
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 5.12%
Average Renter Household Size 2.84
Average Household Size 3.09
Median Household Income $111,152 ±$6,186
Median Rent $1,808 ±$403
Percentage Of Renters Overburdened 29.24% ± 22.82pp
Total Population 18,295

Population and Household Demographics

Frankfort is a city in Cook County, Illinois with a population of 18,295. There are 5,878 households in the city with an average household size of 3.09 persons. 5.12% of households in Frankfort are renters.

Income and Rent Overburden in Frankfort

The median gross income for households in Frankfort is $111,152 a year, or $9,263 a month. The median rent for the city is $1,808 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Frankfort, a household making less than $6,027 a month would be considered overburdened when renting an apartment at or above the median rent. 29.24% of households who rent are overburdened in Frankfort.

Area Median Income In Frankfort

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Frankfort, the AMI is calculated from all households within Cook County.

In Frankfort, HUD calculates the Area Median Income for a family of four as $107,800

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Frankfort

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Frankfort

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Frankfort AMI may qualify for rental assistance programs that target Extremely Low Income households.
$21,900 $25,000 $28,150 $31,250 $33,750 $37,190 $41,910 $46,630
50% AMI Income Limits
Renters earning up to 50% of the Frankfort AMI may qualify for rental assistance programs that target Very Low Income households.
$36,500 $41,700 $46,900 $52,100 $56,300 $60,450 $64,650 $68,800
80% AMI Income Limits
Renters earning up to 80% of the Frankfort AMI may qualify for rental assistance programs that target Low Income households.
$58,350 $66,700 $75,050 $83,350 $90,050 $96,700 $103,400 $110,050